Search results for Project Crypto
Crypto
U.S. senator says CLARITY bill will make everyone a bit uncomfortable, compromise unavoidable
A U.S. senator warns the CLARITY bill to overhaul digital asset regulation will make both banks and the crypto industry uncomfortable, as reducing uncertainty requires balancing competing interests. Banks are concerned about fund outflows into stablecoins and digital assets, with some estimates projecting $500 billion could leave banks by 2028. The SEC and CFTC have also announced a cooperation framework under Project Crypto covering asset classification, alternative compliance models and data regulation reform.
Crypto
U.S. SEC chair says \'Project Crypto\' to launch with CFTC to overhaul rules
U.S. SEC Chairman Paul Atkins said in a speech at the ETHDenver event that the regulator will overhaul rules related to crypto assets. He said the SEC will pursue \'Project Crypto\' jointly with the CFTC, focusing on researching the legal framework for \'investment contracts\'. The SEC will move to create rules to support crypto fundraising and further clarify, through no-action and relief orders, whether wallets and user interfaces must be registered under securities laws.
Crypto
U.S. SEC to cut stablecoin collateral haircut to 2 percent
The U.S. Securities and Exchange Commission has issued new guidance allowing broker-dealers to apply a 2 percent collateral haircut to stablecoins they hold, The Block reported on Thursday. The Block said the move effectively lowers regulatory hurdles compared with some brokers’ practice of applying a 100 percent haircut. The SEC’s Trading and Markets division said the guidance aims to reduce burdens when applying customer asset protection rules.
